Procurement Management

Credits 1.4 CEUs / 14 PDUs

2 Days

Course description
This course provides students a detailed view of the processes used to acquire resources, to complete projects, and to ensure fulfillment of requirements. Students are introduced to the procurement acquisition and contract processes of project management, and to the details on contract administration. A systematic approach will aid students in developing an in-depth understanding of procurement and contracting issues from the standpoint of both buyers and sellers of products and services needed to complete project work. This course is 100% compliant with the Project Management Institute’s (PMI’s®) current Project Management Body of Knowledge (PMBOK®).

Who should attend
This course is primarily designed for project managers who wish to enhance their understanding of the project procurement and contract management processes. Individuals taking this course should have at least two years of experience working on project teams.

What you will achieve

The vocabulary, and fundamental concepts of procurement and contracting
Project procurement and contract management methods, tools, and techniques
The various types of contracts and pricing models, their strengths and weaknesses, and when they should best be used
Procurement and contract management issues from the unique perspectives of the buyer and seller

What you will learn

An Operational Model for Procurement and Contract Management – understand operational definitions, terms, concepts, and techniques
Contract Selection – evaluate the various types of contracts to determine which will best represent the relationship between the buyer and seller
Contract Administration – develop a process to maintain the integrity of the buyer-seller engagement; implement a formalized contract change control process
Procurement & Contract Management Plan Development – create a customized overview plan of participants’ processes using statements of work, procurement documents, bidding processes, and state-of-the-art thinking to maximize procurement and contract management results

Day One                                                                                         Day Two
Course Introduction                                                                    Plan Contracting
Project Procurement Management Overview                        Request Seller Response
Legal Concepts of Contracts                                                      Select Sellers
Contract Pricing                                                                           Contract Administration & Closure
Plan Purchases and Acquisitions                                             Contract Management For Sellers


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Procurement Management